PRODUCT LIFE CYCLE COST MANAGEMENT - NECESSARY TOOL FOR INDUSTRIAL COMPANIES

At the time of worldwide crisis the cost rationalization is more important than before. Customers are able to pay less money in every area. Industrial companies have to focus on customer requirements satisfaction more than before and current product must be at the customers acceptable cost. One of the new effective tools for cost reduction and management is product life cycle cost management methodology which can manage product cost over entire life span. This paper deals with product life cycle cost management methodology.